If the lives of start-up founders are about sweat, blood and tears, no one told the trio at Mumbai-based discount broking firm RKSV. "To be honest, we have had a considerably smooth ride," says Raghu Kumar, one of the three promoters, briefly describing in a matter-of-fact tone their two-year journey as entrepreneurs. He means it. Rather, he prefers to let the numbers speak. Within two years of starting operations and largely operating in a dull market, ...

If the lives of start-up founders are about sweat, blood and tears, no one told the trio at Mumbai-based discount broking firm RKSV. "To be honest, we have had a considerably smooth ride," says Raghu Kumar, one of the three promoters, briefly describing in a matter-of-fact tone their two-year journey as entrepreneurs. He means it. Rather, he prefers to let the numbers speak. Within two years of starting operations and largely operating in a dull market, ...

MUMBAI: Unruffled by the fears of a global meltdown and roller-coaster stock market, commodity futures trading has surged. That's good news with several investors getting a window to make money. But a runaway market has also stoked the regulator's concern. In a move aimed at making the market safer, the Forward Markets Commission (FMC) has clamped down on proprietary trading in commodity futures. FMC, which regulates the commodity market, has said that trades on proprietary account can take...

NEW DELHI: Taking a cue from the US, the finance ministry and the Reserve Bank will place stringent curbs on financial entities taking risk with their own funds. The collapse of US trading firm MF Global last month because of bets on European government debt with its own money has again raised concerns over proprietary trading, considered to be one of the reasons for the global financial crisis of 2008 and the collapse of financial services firm...

MUMBAI: A stronger rupee has paved the way for high-street banks to have a greater play in the currency market, with last year's unnerving choppiness suddenly looking like a thing of the past. The Reserve Bank of India (RBI) recently told several large lenders that they are free to carry out foreign exchange proprietary trades in which bank treasuries bet on the dollar-rupee movement. The move will deepen the currency market and offer finer foreign exchange rates to...

NEW DELHI: To ring-fence small investors from any manipulation by brokers, market regulator Sebi is considering revisiting its policy on proprietary trades. Such trades are conducted by brokers for their own gains and not for the clients. Brokers are required to make strict disclosures about their proprietary trades and ensure a 'Chinese Wall' like structure between these trading activities and the trades conducted by them on behalf of their clients. ...

A few weeks ago we asked a simple question: Why are the same Wall Street banks that lobbied so hard to dilute the passages in the Dodd-Frank financial overhaul bill banning proprietary trading now jettison-ing their proprietary trading groups, without so much as a whimper? The law directs regulators to study the prop trading ban for another 15 months before deciding how to enforce it: why is Wall Street caving now? The many answers offered by Wall Street insiders in...

NEW DELHI: Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account. The application of Morgan Stanley is pending with the Reserve Bank as there is no clarity on whether foreign direct investment is permitted in proprietary trading, sources told PTI. RBI has sought views of the Finance Ministry on allowing the Indian arm...

MUMBAI: In an effort to bring transparency in stock market activity, Securities and Exchange Board of India (Sebi) has made it mandatory for stock brokers to disclose to their clients whether they conduct client-based business or do proprietary trading. The brokers should disclose this information to existing clients within one month from today, Sebi said in a communication to the stock exchange here. Further, the broking entities would have to disclose this...

MUMBAI: Securities and Exchange Board of India on Thursday said stock broker/sub broker is barred from dealing with another broker or sub broker of the same exchange for proprietary trading or for the client, except with the permission of the bourse. While giving permission, the stock exchanges should consider the reasons provided by brokers/sub brokers for such transactions and carry out due diligence for the same, Sebi said in a circular here. It has been...

NEW DELHI: In a policy rethink, foreign finance companies having banking linkage may get to undertake proprietary trading. However, in the wake of intense scrutiny since the 2008 global crisis, the sector may only be opened up marginally. The move follows many companies approaching the finance ministry and RBI after a blanket rejection of their proposals. "RBI has agreed to re-examine the regulatory regime in the case of foreign companies where its parent...

NEW DELHI: Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account. The application of Morgan Stanley is pending with the Reserve Bank as there is no clarity on whether foreign direct investment is permitted in proprietary trading, sources told PTI. RBI has sought views of the Finance Ministry on allowing the Indian arm of the...

The Indian rupee's exchange rate is being strongly influenced, if not determined, by rupee trade in Singapore and Dubai. The government is seized of the matter, even if a little late in the day. There are two ways of dealing with the problem. One is for a sovereign agency or an agency acting on behalf of the sovereign to operate in the Dubai and Singapore markets, to counter one-sided bets against the rupee. The other is to deepen and broaden the currency market in India, so as to make...

MUMBAI: Seeking to arrest the declining value of rupee, the Reserve Bank has imposed restriction on banks with regard to trading in currency Futures and Options (F&O) with immediate effect. Under the new norms, the banks have been barred from trading in currency futures and exchange traded currency options market on their own. They will, however, be allowed to trade on behalf of their clients. "On a review of the evolving market conditions, it has been decided that......

Definition: For learning about proprietary desk, the concept of proprietary trading needs to be first understood. When, for the purpose of earning profits , a firm trades in stocks , commodities , bonds or in any other financial instrument with the firm's own money instead of the customer's money, it is termed as proprietary trading. The bank/company staff taking part in this activity of proprietary trading is often referred to as proprietary desk.

LONDON: JPMorgan Chase's Deepak Gulati is holding talks with investors as he and a team of traders consider leaving the bank to start a hedge fund, said four people with knowledge of the discussions. Gulati, JPMorgan's head of global equity proprietary trading, attended a conference held by Goldman Sachs Group Inc. in Rome last week to meet backers, said the people, who asked not to be identified because Gulati's plans aren't public. About 20 JPMorgan...

Definition: For learning about proprietary desk, the concept of proprietary trading needs to be first understood. When, for the purpose of earning profits , a firm trades in stocks , commodities , bonds or in any other financial instrument with the firm's own money instead of the customer's money, it is termed as proprietary trading. The bank/company staff taking part in this activity of proprietary trading is often referred to as proprietary desk.

MUMBAI: Despite concerns over the Maharashtra government's move to impose a stamp duty on proprietary trades, more and more brokers seem to be actively getting into proprietary trading. According to figures from the Bombay Stock Exchange (BSE), as many as 13 brokers are entirely into proprietary trading, which includes mainly jobbing and arbitrage, while another 38 brokers do proprietary business that constitutes between 50-100% of their total trading. ...

HONG KONG: Former Federal Reserve chairman Paul Volcker , the namesake of US rules designed to rein in banks' proprietary trading, proposed another regulatory overhaul: this time, regarding supervision of global capital flows. "This is a subject that has been basically ignored for 20 or 30 years now, ever since the breakdown of the Bretton Woods system," Volcker said in an interview with Bloomberg Television in Hong Kong on Thursday. "Behind this immediate...

NEW DELHI: In a policy rethink, foreign finance companies having banking linkage may get to undertake proprietary trading. However, in the wake of intense scrutiny since the 2008 global crisis, the sector may only be opened up marginally. The move follows many companies approaching the finance ministry and RBI after a blanket rejection of their proposals. "RBI has agreed to re-examine the regulatory regime in the case of foreign companies where its...